Cummins Again Recognized as Sustainability Leader on Global, Regional Levels
COLUMBUS, Ind.--(BUSINESS WIRE)--
For the fourth year in a row, Cummins Inc. (NYSE: CMI) has been named to the Dow Jones Sustainability World index, which represents the top 10 percent of the world's largest 2,500 companies in corporate sustainability.
Also as part of the 2008 review, Cummins was recognized as one of the world's top 11 leaders in sustainability among industrial companies and was included in the North American index for the second straight year.
The updated indices, based on Dow Jones Sustainability Index's (DJSI) annual review, become effective with the opening of the equity markets on Sept. 22, 2008.
In its annual review, the DJSI analyzes companies in three broad categories - economic, social, and environment, with a higher weighting given to environmental performance in industrial companies such as Cummins.
Specific issues considered include corporate governance, risk management, customer relationship management, climate change strategy, supply chain standards, labor practices, corporate citizenship and philanthropy, employee development, product stewardship, environmental management systems, and environmental policy and procedures and the scope of their application.
"Cummins appreciates the work DJSI does to promote and recognize good sustainable practices, and it's an honor to be included in a list of such fine companies," said Tom Linebarger, President and Chief Operating Officer of Cummins. "Cummins believes that strong performance in governance, social and environmental arenas is not only the right thing to do, but benefits all our stakeholders. There are always areas in which we can improve, but our inclusion for the fourth time in the World Index is an indication that we are making good progress."
Cummins works hard to improve its sustainable practices every year. In 2008, the Company expanded its customer support excellence initiatives to all parts of the corporation; received awards for excellence in corporate governance and business ethics; revamped its Code of Conduct for employees; made solid progress in achieving its greenhouse gas reduction commitment; adopted more stringent safety targets to move Cummins to best in class in safety; and was acknowledged as a leader in diversity and our employment of Asians and Asian-Americans.
Sustainable Asset Management (SAM) Group works in partnership with Dow Jones in analyzing companies and compiling its indices. The selection of index components follows a prescribed rules-based process and analysis is verified by an external auditor.
Note: Full details about the design philosophy, review methodology and index components are available at www.sustainability-indexes.com
About Cummins
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves customers in approximately 190 countries and territories through a network of more than 500 company-owned and independent distributor locations and approximately 5,200 dealer locations. Cummins reported net income of $739 million on sales of $13.05 billion in 2007. Press releases can be found on the Web at www.cummins.com.
Information provided and statements in this release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to, general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in Cummins Securities and Exchange Commission filings.
Source: Cummins Inc.
Released September 11, 2008